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Reports: Jos. A. Bank in talks to buy Eddie Bauer

Jos. A. Bank Clothiers Inc is in talks to buy retailer Eddie Bauer Inc from private equity owner Golden Gate Capital, according to a source familiar with the talks. The source, who asked not to be named, did

Jos. A. Bank menswear retailer is in talks to buy Eddie Bauer retailer, according to Reuters news service and a published report Saturday in The Wall Street Journal.

Both reports cited unnamed sources who are close to the negotiations. It marks the latest chapter in a protracted and hostile struggle between Jos. A. Bank and Men's Wearhouse retailer.

Those two firms have made overtures to buy each other in prior months, and reports on Saturday in The New York Times and on Daily Finance, a financial news and commentary website owned by AOL, said that Men's Wearhouse's board was going directly to Jos. A. Bank shareholders and bypassing its board in an effort to get them to push for a deal.

The size of either a deal between Jos. A. Bank and Eddie Bauer or Jos. A. Bank and Men's Wearhouse was not reported Saturday though in the past, Men's Wearhouse had offered $55 a share or $1.6 billion for Jos. A. Bank, which the company rejected.

Eddie Bauer is owned by private equity firm Golden Gate Capital, according to the Reuters story. The WSJ story said Golden Gate acquired Eddie Bauer in 2009 for $286 million cash plus the assumption of hundreds of millions of dollar in debt.

Jos. A. Bank shares closed Friday up 0.9% to $56.22 in a nasty day for the broader market. Its shares have risen 47% the past year. Men's Wearhouse shares

Jos. A. Bank is raising doubts about whether the federal government will approve the takeover bid by rival clothier Men's Wearhouse.

On Sunday, Jos. A. Bank Clothiers said that Men's Wearhouse had yet to explain why the Federal Trade Commission would approve the proposed combination because of antitrust concerns.

The two retailers have been dueling since October when Jos. A. Bank, based in Hampstead, Md., offered $2.3 billion for Men's Wearhouse.

Men's Wearhouse, based in Fremont, Calif., rejected that bid and also cited antitrust issues. It then countered with a $1.6 billion offer to buy Jos. A. Bank. That offer was rejected last month, leading Men's Wearhouse to send a letter Thursday saying it would be willing to raise its offer.